Livehire Limited (ASX: LVH) which is into the business of accelerating end to end hiring process through is talent acquisition and engagement platform announced on 17 December 2018 that it was successful in securing enterprise agreement with Jemena which is one of the leading organizations which deals in energy infrastructure and distribution.
As per the enterprise agreement with the Jemena, Livehire is responsible for the recruitment of employees across the entire operations of Jemena. The company expects that through the agreement, the company would be able to generate an annual recurring revenue which is twice its current ARR across its clients. Livehire considers the adoption of Livehire’s platform to deal with more extensive and complex enterprises, a part of the company’s direct sales strategy.
The agreement includes the Livehire’s platform capable of allowing the inflow of talent to Jemena which is rapidly deployable, scalable, integrated and have a single united profile of the candidate. The agreement also includes the integration of Livehire’s platform with the client’s Human Resource Information System (HRIS).
Further, the company announced that it had issued performance rights as well as fully paid ordinary shares to its new Senior Management Personnel that will depend on the loan arrangements.
The company will issue around 338,352 Performance Rights which forms a part of salary and a portion of incentive arrangement. The company will issue around 1,000,000 loan back shares with the issue price of $0.47288 based on the 5-days VWAP (volume weighted average price) of company shares.
Further, the company declares the cleansing statement where it notifies ASX under section 708A(5)(e) of the Corporations Act 2001, that it has completed the issue of allotment of 1,000,000 Loan Back Shares and 20,000 fully paid ordinary shares.
The official listing date of LVH is 10 June 2016. The performance of the LVH since its inception is 161.11%. The last one-year performance of the company is 58.04%.
For the financial year 2018, ending on 30 June 2018, the net loss incurred by the company was $10,096,222. The balance sheet of the company appears to be quite healthy. Its debt-equity ratio is 0.06. The company has maintained a strong net asset base of $32,291,040 which highlights that the position of the company is quite strong regarding meeting its long-term liabilities. Further, the company has maintained its position regarding meeting its short-term obligations and its working capital. It is because the total current asset of the company is much above its total current liabilities. However, as a result of increased accumulated losses, there might be chances that it creates a negative influence on the shareholders of the company. It also represents the poor operating performance of the company. There is around $32,291,040 in the form of total shareholder’s equity.
The net cash and cash equivalent available with the company by the end of FY2018 were $30,073,106. On 18 December 2018, the market price of the share was A$0.515 which is 0.020 points below its previous day’s closing price with the market capitalization of A$142.64 million.
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